We all want to be remembered, to feel that we’ve contributed something to the world. For some, this can be a driving force leading to great accomplishments and extraordinary contributions to mankind. But for most of us with more modest goals, what pushes us is the desire to leave a legacy.
Do you know the phrase “don’t miss the forest for the trees”? This phrase is a good teaching point when planning your estate. In other words, don’t get so caught up in the details that you miss the big picture.
You can get mired in the tax laws, the tricks and the tools, and even some petty family squabbling. Then again, there are those planners who find direction in an old axiom: “Don’t just leave an estate. Leave a legacy.”
An estate is just so much stuff, figuratively or literally. However, a legacy is so much more. Whether a beloved memory or even a contribution to those around you. Usually, we seek to leave behind an estate for the good of our family, and we work to protect this gift from what problems may lie in wait.
When you are considering this notion of your “legacy,” take time to think through what you are trying to achieve. A recent article in Forbes titled “4 Smart Ways To Leave A Legacy” can help get you started.
Certainly, there is no one way to leave a legacy, or even a single way to guarantee it.
In the end, it is your call when it comes to the legacy you wish to leave.
Reference: Forbes (August 1, 2013) “4 Smart Ways To Leave A Legacy”